Santander, a Spanish banking company, bought Sovereign in 2009. The name comes from the Spanish city where the company was founded in 1857. The legal name has been changed to Santander Bank N.A.

In Rhode Island, the company will have a ceremony to mark the change, and unveil a new sign, starting at 8 a.m. Thursday at the bank’s branch at One Financial Plaza in downtown Providence.

Brian Azar, a Rhode Island native, is Santander’s regional president for southern New England, which includes Rhode Island, Connecticut and parts of Massachusetts. Santander has 718 branches in the eastern U.S., extending from New Hampshire to Maryland.

“The name might be new to U.S. customers, but it’s one of the strongest and most recognized brands in the world,” Azar said.

Azar said switching to Santander will make it easier for both individuals and companies to conduct banking business overseas.

In Rhode Island, he said, Santander customers won’t need to change a thing. They will use the same ATM cards and bank accounts as before. The branch locations and the number of employees will also stay the same.

“For customers, the transition is seamless,” he said.

Azar said the company will spend $200 million in the U.S. on improvements, including new furniture, carpeting and painting for some of the branches, a new mobile app, some new ATMs and an enhanced website.

Santander will partner with area colleges, including Brown University, Providence College and Bryant University to help provide internships and exchange programs.

The company will also start a new charitable campaign under the slogan “Ideas for Good,” which will allow customers to vote among three community nonprofit organizations at their neighborhood branch. The winner will receive a $500 donation.